ZNGA - KeyBanc survey looks at videogame favorites and the subscriptions skirmish

KeyBanc has turned its attention to the videogame sector via some insights in its consumer survey and first look data. And the bank is seeing a further shift into digital downloads vs. physical, with the figure cresting 50% for the first time in KeyBanc's survey. It's also noting a bit of an engagement decrease, though a high percentage of identified gamers are still present in the survey. And among sector names, KeyBanc continues to favor Activision Blizzard (ATVI), expecting its franchise strategy will continue to play out through more of the company's premium franchises. It has a $120 price target, implying 25% upside in the shares. Among other names it's highlighting, KeyBanc thinks Electronic Arts (EA) makes for an interesting value play, given its well-known sports franchise and recent acquisitions (including deals to acquire Codemasters and Glu Mobile (GLUU)). It has a $165 price target, implying 17% upside. And Zynga

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KeyBanc survey looks at videogame favorites, and the subscriptions skirmish